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Microsoft Excel LibreOffice Calc

Phillips 66 (PSX)


Enterprise Value to FCFF (EV/FCFF)

Intermediate level


Free Cash Flow to The Firm (FCFF)

Phillips 66, FCFF calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Net income attributable to Phillips 66
Net income attributable to noncontrolling interests
Net noncash charges
Working capital adjustments
Net cash provided by operating activities
Cash payments, interest, net of tax1
Interest capitalized, net of tax2
Capital expenditures and investments
Free cash flow to the firm (FCFF)

Based on: 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-20).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the Phillips 66’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. Phillips 66’s FCFF increased from 2016 to 2017 and from 2017 to 2018.

Interest Paid, Net of Tax

Phillips 66, interest paid, net of tax calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Effective Income Tax Rate (EITR)
EITR1
Interest Paid, Net of Tax
Cash payments, interest, before tax
Less: Cash payments, interest, tax2
Cash payments, interest, net of tax
Interest Costs Capitalized, Net of Tax
Interest capitalized, before tax
Less: Interest capitalized, tax3
Interest capitalized, net of tax

Based on: 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-20).

1 See details »

2 2018 Calculation
Cash payments, interest, tax = Cash payments, interest × EITR
= × =

3 2018 Calculation
Interest capitalized, tax = Interest capitalized × EITR
= × =


Enterprise Value to FCFF Ratio, Current

Phillips 66, current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Selected Financial Data (US$ in millions)
Enterprise value (EV)
Free cash flow to the firm (FCFF)
Valuation Ratio
EV/FCFF
Benchmarks
EV/FCFF, Competitors1
Chevron Corp.
ConocoPhillips
EOG Resources Inc.
Exxon Mobil Corp.
EV/FCFF, Sector
Oil & Gas Producers
EV/FCFF, Industry
Oil & Gas

Based on: 10-K (filing date: 2019-02-22).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

Phillips 66, historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Enterprise value (EV)1
Free cash flow to the firm (FCFF)2
Valuation Ratio
EV/FCFF3
Benchmarks
EV/FCFF, Competitors4
Chevron Corp.
ConocoPhillips
EOG Resources Inc.
Exxon Mobil Corp.
EV/FCFF, Sector
Oil & Gas Producers
EV/FCFF, Industry
Oil & Gas

Based on: 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-20).

1 See details »

2 See details »

3 2018 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. Phillips 66’s EV/FCFF ratio decreased from 2016 to 2017 and from 2017 to 2018.